A significant fire broke out in the basement of the seven-storey Income Tax Office building at Churchgate, South Mumbai, on Monday afternoon, leading to the evacuation of numerous individuals, with no casualties reported so far.
The Income Tax Department in Mumbai has inducted 97 accomplished sportspersons under its sports quota, including cricketer Tejal Hasabnis and para shooter Akash, to strengthen its commitment to recognising sporting excellence and nurturing talent in public service.
A special CBI court in Thane acquitted an Income-Tax officer accused of demanding a bribe, citing lack of proof of illegal demand and contradictory evidence.
The authorities have said that it is not permissible to examine and review in 2026 the decision taken by the trustees in 1988 regarding the existence of necessity for transfer of shares.
An Ahmedabad court has convicted the wife of a former Income Tax Officer in a disproportionate assets case dating back nearly two decades. The husband, also an accused, died during the trial.
The Supreme Court has emphasised the need for timely investigations and conclusions of criminal cases involving illicit money in elections. Observing that black money compromises democracy and the rule of law, the court issued several directives, including reporting seizures to competent authorities within 24 hours, completing investigations within a year, and submitting quarterly status reports to the Election Commission. The ruling also mandates High Courts to designate special courts for expeditious disposal of cases against candidates and requires High Court approval for withdrawing cases.
The Allahabad High Court has barred four advocates from entering any court premises in Lucknow and ordered a confidential inquiry by the Intelligence Bureau (IB) into their background and activities following an alleged assault on a litigant and Delhi lawyers.
Taxability in property transactions depends on the actual source of funds and beneficial ownership, not on whose name appears in the purchase agreement.
A Special Investigation Team (SIT) probing the alleged embezzlement of donation money at the Ram Temple in Ayodhya is expected to question people associated with the Shri Ram Janmabhoomi Teerth Kshetra Trust and review banking arrangements for donations.
The Delhi High Court has ruled that an individual cannot obtain details of their spouse's income from authorities by filing an application under the Right to Information (RTI) Act.
A farmer in Uttar Pradesh, India, was shocked to receive tax notices for millions of rupees due to a fraudulent firm operating under his name in Delhi. An investigation has been launched to address the identity theft and tax evasion.
A farmer in Budaun, Uttar Pradesh, received tax notices for Rs 14.66 crore due to a fraudulent firm operating in his name in Delhi, prompting an official investigation.
Police in Belagavi, Karnataka, have arrested the operator of Shivam Associates, accused of running a multi-crore Ponzi scheme that promised high returns to depositors. The case has been registered under the BUDS Act and KPID Act, and will be transferred to the CID for further investigation.
Police in Karnataka have arrested an individual running a firm accused of operating a multi-crore deposit scam, attracting investments with promises of high returns. The case involves Shivaanand S Neelanavar and his firm Shivam Associates, also known as Acumen, who allegedly failed to return money to depositors after promising a 36 per cent annual return.
Police in Kanpur have arrested a suspected mastermind behind a network of fake firms, forged documents, and suspected hawala transactions worth over Rs 3,200 crore.
Ludhiana Police have busted a large cyber fraud racket, arresting 132 people involved in running fake call centres that targeted foreign nationals through various online scams.
He added that the family is focused on the cremation process and gathering more information from the office staff.
TVK chief Vijay declared assets worth 603.20 crore in his election affidavit, including luxury cars and significant bank deposits, ahead of the Tamil Nadu Assembly polls.
Kanpur Police busted an IPL betting racket, arresting five individuals and seizing Rs 3.91 crore in cash and betting equipment. The accused operated through an illegal website and mobile app, using master IDs to facilitate online gambling.
Rajya Sabha MP Raghav Chadha refutes allegations of inaction in Parliament, asserting his commitment to raising public issues and creating impact.
Himachal Pradesh DGP Ashok Tiwari has recommended a detailed examination and action against the SDM of Solan for alleged misuse of official position, conflict of interest, and possible involvement in benami transactions related to land deals.
Police in Surat are investigating an alleged interstate hawala-linked political funding network involving Aam Aadmi Party (AAP) functionaries, with Rs 1.25 crore reportedly routed from Delhi to Surat ahead of Gujarat local body polls. The AAP has dismissed the claims as a conspiracy by the ruling BJP.
The Central Information Commission (CIC) has directed the Income Tax Department to disclose 'generic details of the net taxable income/gross income' of an estranged husband to his wife for pursuing maintenance proceedings. The commission stated that such information cannot be denied on privacy grounds in matrimonial disputes.
Former chief secretary Vinit Chowdhary has criticised Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu over his handling of graft allegations in the Chester Hill housing project.
Kanpur Police solved a robbery case leading to the discovery of a large hawala network. Six people were arrested, and investigations are ongoing to uncover the full extent of the illegal financial activities.
Leading FMCG maker HUL said that it has received a demand notice of Rs 962.75 crore from the Income Tax Department and will go in for an appeal against the order. The notice relates to non-deduction of TDS on payment of Rs 3,045 crore to GlaxoSmithKline Consumer Healthcare (GSKCH) for the acquisition of Intellectual Property Rights of the Health Foods Drinks (HFD) business consisting of brands as Horlicks, Boost, Maltova, and Viva, according to a recent exchange filing.
C J Roy, founder and chairman of real estate firm Confident Group, died by suicide in Bengaluru. The incident occurred amidst ongoing Income Tax searches at his premises. Family alleges pressure from a central agency may have contributed to his death.
RediffGURU Mihir Tanna broadly lists the ITRs to be filled by individuals having income from salary, house property, capital gain, business and other sources.
Building on last year's clearance of 172K cases, I-T department is pushing for faster appeal disposals, penalty reforms and system-driven processes to curb litigation and boost tax certainty.
With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions. Debjyoti Das, principal chief commissioner of income tax (exemption), said the new Act has already reorganised exemption provisions into a clearer and more coherent structure, and the accompanying procedures and forms are now being examined.
The Federation of Indian Chambers of Commerce and Industry (Ficci) has sought urgent steps to clear the huge backlog of income-tax appeals, simplify tax deducted at source (TDS) compliance, and ensure tax neutrality for fast-track demergers, during its consultation with Revenue Secretary Arvind Shrivastava ahead of the Union Budget 2026-27.
A speeding Lamborghini, allegedly driven by the son of a tobacco trader, injured at least six people in Kanpur after hitting pedestrians and two-wheelers.
The Income Tax department is working on simplified I-T forms and aims to notify new rules by December-end to give effect to the new I-T Act, which will come into force from April 1 next year, a senior tax official said on Monday.
The Delhi high court on Friday stayed a Rs 1,140 crore angel tax demand raised by the Income Tax department from hospitality and hotel aggregator Oyo's parent company Oravel Stays Private Limited for the assessment year 2020-21. The tax demand was issued under Section 56(2) (viib) of the Income Tax Act, commonly known as the "angel tax" provision, which applies when unlisted companies issue shares at a value exceeding their "fair" market price.
'As a result of delays, the desired reliefs are not coming for taxpayers.'
The preliminary processing of tax returns is already undertaken with the help of technology. There is now greater scope of using more technology to reduce the human interface even further, notes A K Bhattacharya.
West Bengal Chief Minister Mamata Banerjee on Thursday dramatically turned up at the residence of Indian Political Action Committee (I-PAC) chief Pratik Jain amid an ongoing Enforcement Directorate raid, alleging that the central agency was attempting to seize the Trinamool Congress's internal documents, hard disks and sensitive data linked to its election strategy.
According to a police officer, the fire started in the office of the Commissioner in room number 325 on the third floor of the building. He said many of the employees were outside the building as it was lunchtime, otherwise, the casualty could have been more.
'We want to clear these pending refunds so that no issues arise once the new I-T Act takes effect.'
